Tips for Handling Rental Void Periods as a Landlord

If you’ve just taken on new tenants, it’s natural to hope they will stay on … and on. Fortunately for landlords in London, research published earlier this year has shown that the capital enjoys the shortest void periods of all other UK regions, at 18 days on average 

The term ‘void period’ refers to the length of time a property remains empty between Htenants. While London’s void figures will be welcomed by landlords, the costs associated with even a brief pause between tenants can mount up.

It’s not just a matter of the missed rent payments. Expenditure can include advertising, referencing, cleaning: possibly even some redecoration to restore the property to its original condition. Whether you’re an established landlord with a large portfolio or contemplating your first buy-to-let investment, reducing void periods should always be a priority.

One of the most common questions from landlords is, “How can I minimise void periods  when I rent my property out?”  This month, our Clapham Letting agents teamed up with our estate agents in Battersea to create a short guide for landlords.

“What’s the Best Way to Let my Property Without a Void Period?” – Here’s an Expert Tip!

Re-advertising your property before your tenant has vacated the property gives you a better chance of closing the void gap. Check your tenancy agreement to see if it permits viewings while a tenant is still in occupation.

If the agreement allows you to carry out viewings before your tenant has left, you could begin marketing almost as soon as they give notice. Ensure you’re working with an agent who goes above and beyond just listing the property on Rightmove, you want an agent who creates bespoke marketing campaigns for you.

Be diplomatic towards your existing tenant, arrange viewings at mutually convenient times and give at least 24 hours notice.  

Establish a Reasonable Rent

Price your rent too high and it may take longer to find a tenant. Set it below market value and you will lose potential income. Tenants respect a landlord who is prepared to charge a fair rent, so the price you set should ideally reflect average local rental values. However, if your property is situated in a sought-after location or has exceptional features or amenities, you may be able to charge more.

The London lettings market is a complex environment. Rental values for similar properties can rise or fall along the same road or within an apartment block. You will may need to consult an experienced lettings agent to get a true picture of your property’s worth. Many agents, including us at Orlando Reid, offer a free, no-obligation valuation to help you get a clear picture of your property’s rental value.

Keep Your Property in Good Order

A well-maintained house or flat is more likely to attract responsible tenants and be treated with respect during the tenancy. One of the top complaints made by tenants against landlords is the failure to carry out routine maintenance and repairs. Regular safety checks on gas and electricity installations not only leave tenants feeling safe they also help landlords remain compliant.

When you keep your property in good condition, it will be able to withstand normal wear and tear. Additionally, less work will be needed to attract another tenant when the property eventually becomes vacant.

Picking Suitable Tenants

Careful referencing is essential when you are considering an applicant who wants to rent your property. That means carrying out credit checks, seeking information from the previous landlord and confirming employment status and salary. You’ll also need to carry out a mandatory Right to Rent check to ensure your tenant is legally allowed to rent in England.

It’s not possible to predict what will happen during a tenancy. However, an applicant with positive references, a clear credit score and the prospect of steady employment will usually turn out to be a long-lasting and reliable tenant.

Building a Relationship

Building a strong relationship with your tenant can significantly increase the likelihood of timely rent payments and ensure your property is treated with care and respect.

Maintaining professionalism in all dealings is key. This includes respecting your tenants’ privacy by avoiding unscheduled visits or inspections and responding promptly to their communications.
Remaining open-minded can also make a difference. Agreeing to reasonable requests, such as allowing a pet or redecorating a room, can help tenants feel more at home and encourage them to stay longer.

For landlords who want to reduce the stress of tenant relationships and property management, a professional service like ours at Orlando Reid can handle these responsibilities seamlessly. From tenant communication to property maintenance, we ensure your investment is in safe hands while giving you peace of mind.

A Changing Landscape

Landlords and tenants are expecting a raft of changes to be delivered through the new Labour government’s flagship Renters’ Rights Bill (currently making its way through parliament).

As leading letting agents in Battersea and Clapham, we’ll be noting the details of any changes and updating the information here.

If you are letting a property in south west London and would like to join the growing band of landlords who benefit from our seamless lettings and property management service, simply get in touch.